Private Equity Fund Investments
Used cars marketplace Spinny raises $285-M from Tiger Global, ADQ, others; turns unicorn
Gurugram-based Spinny, a used car retailing platform, has raised USD 285 million in a Series E funding round led by Abu Dhabi-based ADQ and New York-based investment firm Tiger Global. ADQ and Tiger Global have invested USD 100 million each, while USD 50 million has come from Avenir Growth and USD 25 million from Feroz Dewan's Arena Holdings. The fundraise includes a USD 35 million secondary sale component with some existing investors partially or fully cashing out. The round marks Spinny's entry to the unicorn club. The company's valuation of USD 1.5 billion pre-money has nearly doubled since it raised USD 108 million from Tiger Global and others in July. Its post-money valuation now stands at USD 1.75 billion.
Between Dec-15 and Jul-21, Spinny raised $229.5 M from Avenir Growth, FJ Labs, General Catalyst Partners, Tiger Global, Think Investments, Fundamentum, General Catalyst Partners, Elevation Capital, Stride Ventures, KB Investment, Accel India, Alteria Capital, Simile Venture Partners, Blume Ventures, Haystack Investment, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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